Post Market Comment by Mandar Bhojane, Research Analyst, Choice Broking
Below the Quote on Post Market Comment by Mandar Bhojane, Research Analyst, Choice Broking
Indian equity indices ended on a strong note with the Nifty reaching 25,000 on August 26. At the close, the Sensex was up 611.90 points or 0.75 percent at 81,698.11, and the Nifty was up 187.40 points or 0.75 percent at 25,010.60.
The Nifty trading near its all-time high level and sustaining above 25,000 indicates that the strong bullish trend is likely to continue, with potential targets of 25,200 and 25,400 in the coming days. On the flip side, 24,800 acts as immediate support, presenting a buying opportunity. The RSI is trading near 64.56 and trending upward.
Except for the PSU Bank sector, all other sectoral indices ended in the green, with Information Technology, Metal, Oil & Gas, and Realty sectors up by 1-2 percent. The BSE Midcap index was up 0.6 percent, while the Smallcap index was up 0.2 percent.
The INDIA VIX was positive, rising by 1.79 percent intraday and settling at 13.7950, indicating increased volatility. The index has support around 24,800. In the Open Interest (OI) data, on the call side, the highest OI was observed at the 25,200 and 25,500 strike prices, while on the put side, the highest OI was at the 24,800 strike price.
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